2020-05-11T08:23:44-05:00 2019-06-30 GRANT THORNTON LLP 75 State Street BOSTON MA 02109 990 2018-07-01 841217703 THE AMERICAN UNIVERSITY OF GREECE FOUNDATION % KELLY MORRA AMER 8572847908 31 State Street Suite 4th fl BOSTON MA 02109 KELLY A MORRA vp of fin/cfo/treas 8572847908 2020-05-01 true ERIN COUTURE P01390592 6177237900 71.232.176.125 04586620201325000001 2020-05-11 P 7D14034AF515942D2ABE7F7E27EA16D2649DB046 43A6EB1B60480DC255080CF589AF7F6909E0A95E 2018 2021-01-29 14:40:06Z DR DAVID G HORNER 31 State Street 4TH FL BOSTON MA 02109 76572364 false X N/A X 1991 CO ACTS AS A SUPPORTING ORGANIZATION WITH FINANCIAL ASSISTANCE FOR THE SOLE BENEFIT OF THE AMERICAN COLLEGE OF GREECE WHICH CONSISTS OF A HIGH SCHOOL AND COLLEGE IN ATHENS, GREECE. 25 25 13 26 0 -2798 7500 2500 0 0 3062738 12096856 0 0 3070238 12099356 0 0 0 0 2021328 1921718 0 0 0 1128261 1754482 3149589 3676200 -79351 8423156 220517847 224539986 2233698 3260278 218284149 221279708 TO SUPPORT THE AMERICAN COLLEGE OF GREECE WHICH CONDUCTS AND MAINTAINS SCHOOLS & INSTITUTIONS OF LEARNING IN GREECE. false false 3138633 0 0 THE AMERICAN UNIVERSITY OF GREECE FOUNDATION (AUGF) HAS PROVIDED FINANCIAL SUPPORT FOR THE AMERICAN COLLEGE OF GREECE (ACG) BY PAYING PROGRAM EXPENSES OF $3,138,633 PLUS MANAGEMENT AND GENERAL EXPENSES OF $537,567 ON ITS BEHALF. THIS ASSISTED THE AMERICAN COLLEGE OF GREECE IN BEING ABLE TO FURTHER ITS OWN TAX EXEMPT PURPOSES BY UTILIZING ITS OWN FUNDS FOR EDUCATION. 3138633 true false false false false false false false false false true true false false true true false true false true true false false false false false false false false true false false false false false false true false false false false false false true true false false false true 16 0 true 13 true false false false false false false false false false false false false X 25 25 false false true false false true false true true false false true true true true true true true false false MA X X KELLY MORRA 8572847908 31 STATE STREET FLOOR 4 BOSTON MA 02109 SPIROS BOUAS VICE CHAIR 1.0 2.0 X X 0 0 0 DEMETRIOS LOGOTHETIS VICE CHAIR 1.0 2.0 X X 0 0 0 DR CONCETTA STEWART CHAIR 1.0 2.0 X X 0 0 0 Nikolaos Koumettis VICE CHAIR 1.0 2.0 X X 0 0 0 Dr Anthony T Kronman VICE CHAIR (thru 07/01/2018) 1.0 2.0 X X 0 0 0 Lee Ann Leahy SECRETARY 1.0 2.0 X X 0 0 0 Dr Bill Antholis TRUSTEE 1.0 2.0 X 0 0 0 Drake Behrakis TRUSTEE 1.0 2.0 X 0 0 0 John Chachas TRUSTEE 1.0 2.0 X 0 0 0 Dr Susan Fuhrman TRUSTEE (AS OF 07/01/2018) 1.0 2.0 X 0 0 0 Dr Matt Glendinning TRUSTEE 1.0 2.0 X 0 0 0 Dr Dena Haritos Tsamitis TRUSTEE 1.0 2.0 X 0 0 0 Kosmo Kalliarekos TRUSTEE 1.0 2.0 X 0 0 0 Dr Martha J Kanter Vice chair 1.0 2.0 X X 0 0 0 Ulysses A Kyriacopoulos TRUSTEE 1.0 2.0 X 0 0 0 Vana Lavidas TRUSTEE 1.0 2.0 X 0 0 0 Alexander Macridis TRUSTEE 1.0 2.0 X 0 0 0 Angelo Manioudakis TRUSTEE 1.0 2.0 X 0 0 0 Dr Dan Miller Vice chair 1.0 2.0 X X 0 0 0 dr Helena Mitchell trustee (as of 07/01/2018) 1.0 2.0 X 0 0 0 Lisa O'Donnell TRUSTEE 1.0 2.0 X 0 0 0 Alexandra Papalexopoulou TRUSTEE 1.0 2.0 X 0 0 0 Dr John Pyrovolakis TRUSTEE 1.0 2.0 X 0 0 0 Milton Sipp TRUSTEE 1.0 2.0 X 0 0 0 Lena G Triantogiannis Vice chair 1.0 2.0 X X 0 0 0 Deborah Wince-Smith TRUSTEE 1.0 2.0 X 0 0 0 Dr David G Horner PRESIDENT 15.0 35.0 X 215587 265670 72956 KELLY A MORRA VP OF FINANCE, CFO AND TREAS 10.0 30.0 X 215235 0 47465 THIMIOS D ZAHAROPOULOS PROVOST 10.0 40.0 X 84518 141588 45154 Alison Townley vice president of advancement 10.0 30.0 X 230028 0 11031 Adam Steinberg dir of major gifts (north am.) 40.0 0.0 X 101871 0 28313 847239 407258 204919 4 false true false CAMBRIDGE ASSOCIATES 125 HIGH ST CAMBRIDGE MA 02110 INV MGT FEE 411907 1 2500 2500 0 1247334 1247334 0 0 0 0 0 75322530 64473008 10849522 10849522 10849522 0 0 0 0 0 0 0 0 0 0 12099356 12096856 0 0 0 0 824804 824804 42848 42848 806757 806757 62438 62438 92574 92574 92297 92297 392085 392085 59913 59913 106495 106495 0 0 477654 477654 140191 140191 23363 23363 55967 55967 51800 51800 0 54188 54188 312772 312772 0 66325 66325 0 0 0 13729 13729 3676200 3138633 537567 0 491294 896865 1452251 1211021 0 0 13487323 683790 0 0 0 0 0 0 0 0 55100 43857 7885393 14551530 197087300 207089185 0 0 0 0 59186 63738 220517847 224539986 416814 613442 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1816884 2646836 2233698 3260278 X 218284149 221279708 0 0 0 0 218284149 221279708 220517847 224539986 X 8423156 -1427597 -4000000 X false true X true false X X X 1 THE AMERICAN COLLEGE OF GREECE 042306054 2 true 3676200 0 1 3676200 0 true false false false false false false false false false false false false false false true false EQUITY AND HEDGE FUNDS 207089185 F 207089185 0 INTERCOMPANY PAYABLE - ACG US 2590765 457B LIABILITY 56071 2646836 X FIN 48 FOOTNOTE SCHEDULE D, PART X, LINE 2 The American University of Greece foundation is included in the consolidated financial statements of the American College of Greece. gREEK LAW DOES NOT SUBJECT NOT-FOR-PROFIT EDUCATIONAL INSTITUTIONS TO INCOME TAX ON TUITION REVENUES. THE COLLEGE IS DESCRIBED IN SECTION 5O1(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED (THE CODE), AND IS gENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE AMERICAN COLLEGE OF GREECE-DEREE COLLEGE (ACG-DC) IS A GREEK nOT-FOR-PROFIT ASSOCIATION AND DESCRIBED IN SECTION 501(C)(3) OF THE CODE, AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE AMERICAN UNIVERSITY OF GREECE foundation WAS ORGANIZED TO sUPPORT THE OPERATIONS OF ACG AND IS DESCRIBED IN SECTION 501(C)(3) OF THE CODE, AND iS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE IS REQUIRED TO ASSESS UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. Central America and the Caribbean Investments 199431059 Europe (Including Iceland and Greenland) Investments 5519077 Europe (Including Iceland and Greenland) 3 Program Services Employment 414576 3 3 205364712 205364712 true false true false true false SCHEDULE F, PART I the accounting method for the amounts reported on part i, line 3, column f are reported per the organization's general ledger reporting. X X X true true X X X X false false false false false false false false false Dr David G Horner PRESIDENT 162259 261590 0 0 53328 4080 58125 0 4443 10388 278155 276058 0 0 KELLY A MORRA VP OF FINANCE, CFO AND TREAS 209428 0 0 0 5807 0 33000 0 14465 0 262700 0 0 0 THIMIOS D ZAHAROPOULOS PROVOST 84196 137428 0 0 322 4160 32625 0 1286 11243 118429 152831 0 0 Alison Townley vice president of advancement 225635 0 0 0 4393 0 0 0 11031 0 241059 0 0 0 SCHEDULE J, PART I, LINE 1A SPOUSE TRAVEL: THE RELATED ORGANIZATION, THE AMERICAN COLLEGE OF GREECE PAYS FOR TRAVEL FOR THE PRESIDENT'S SPOUSE, WHO IS AN EMPLOYEE, FOR PURPOSES OF CONDUCTING BUSINESS OF THE COLLEGE. THIS BENEFIT IS TREATED AS A REIMBURSED BUSINESS EXPENSE AND IS NOT CONSIDERED COMPENSATION TO THE PRESIDENT. GROSS UP PAYMENTS: MR. THIMIOS D. ZAHAROPOULOS' TAXABLE WAGES DURING CALENDAR YEAR 2018 WERE INCREASED TO COVER THE ADDITIONAL TAX LIABILITY FOR A MEDICAL STIPEND TO SECURE U.S. MEDICAL BENEFITS. HOUSING ALLOWANCE: The President and Provost are provided housing in connection with the Greece campus. The value associated with such housing is included in Column (d) for each individual. SOCIAL DUES: THE AMERICAN UNIVERSITY OF GREECE FOUNDATION PROVIDES THE PRESIDENT WITH A MEMBERSHIP TO THE HARVARD CLUB. THE RELATED ORGANIZATION, THE AMERICAN COLLEGE OF GREECE, PAYS MEMBERSHIP DUES TO THE PROPELLOR CLUB IN GREECE. THE MEMBERSHIPS ARE CONSIDERED TAXABLE COMPENSATION TO THE PRESIDENT AND ARE REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). PERSONAL SERVICES: THE AMERICAN UNIVERSITY OF GREECE FOUNDATION PROVIDES THE PRESIDENT WITH FINANCIAL PLANNING-RELATED SERVICES. THE SERVICES ARE CONSIDERED TAXABLE COMPENSATION TO THE PRESIDENT AND ARE REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III).FINANCIAL PLANNING-RELATED SERVICES. THE SERVICES ARE CONSIDERED TAXABLE COMPENSATION TO THE PRESIDENT AND ARE REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III).COLUMN (B)(III). SCHEDULE J, PART I, LINE 3 COMPENSATION OF THE PRESIDENT THE EXECUTIVE COMMITTEE OF THE BOARD UNDERTAKES AN ANNUAL REVIEW OF THE PRESIDENT'S PERFORMANCE. ONCE REVIEWED BY THE EXECUTIVE COMMITTEE, AND IN THE ABSENCE OF THE PRESIDENT, THE COMMITTEE MAKES RECOMMENDATIONS FOR ACTION TO THE FULL BOARD. ADDITIONALLY, THE PRESIDENT REPORTS TO THE FULL BOARD IN A FORMAL WRITTEN PRESIDENT'S REPORT THREE TIMES EACH YEAR WITH AN UPDATE ON ALL STRATEGIC INITIATIVES AND ACADEMIC, FINANCIAL AND OTHER MATTERS OF IMPORTANCE. IN CERTAIN YEARS IN WHICH THERE ARE CHANGES TO THE PRESIDENT'S COMPENSATION OR A NEW EMPLOYMENT CONTRACT IS SIGNED, THE EXECUTIVE COMMITTEE'S REVIEW IS SUPPORTED BY A COMPENSATION REVIEW PERFORMED BY AN INDEPENDENT FIRM SPECIALIZING IN THE FIELD OF COMPENSATION, AS WELL AS COMPARABLE COMPENSATION AT OTHER COLLEGES IN THE U.S. AND ABROAD. THE REVIEW OF THE EXECUTIVE COMMITTEE IS DOCUMENTED IN THE BOARD MINUTES. COMPENSATION IS VOTED ON AND APPROVED BY THE BOARD. THE PRESIDENT IS RESPONSIBLE FOR THE REVIEW OF COMPENSATION for the CFO, the provost and all of his direct reports. THE REVIEW IS BASED ON PERFORMANCE AND A COMPARATIVE ANALYSIS OF COMPENSATION PAID AT OTHER COLLEGES IN THE U.S. AND ABROAD. Dr Sandra Sue Horner Spouse of President 42848 Employment false SCHEDULE L, PART IV, COLUMN B THE AMERICAN UNIVERSITY OF GREECE FOUNDATION ENGAGES A FAMILY MEMBER OF AN OFFICER IN THE ORDINARY COURSE OF BUSINESS. THE OFFICER DOES NOT PARTICIPATE IN ESTABLISHING THE COMPENSATION OF THE FAMILY MEMBER. SIGNIFICANT CHANGES TO ORGANIZATION'S GOVERNING DOCUMENTS PART VI, LINE 4 EFFECTIVE JUNE 3, 2019, THE NAME OF AMERICAN UNIVERSITY OF GREECE WAS CHANGED TO THE AMERICAN UNIVERSITY OF GREECE FOUNDATION. The name change and corresponding documentation were submitted to the IRS July 31, 2019. POWER TO ELECT OR APPOINT MEMBERS FORM 990, PART VI, LINE 7A The Board of Directors of the Foundation are appointed by the American College of Greece. FORM 990 REVIEW PROCESS FORM 990, PART VI, LINE 11 THE FORM 990 IS PREPARED BY THE AMERICAN UNIVERSITY OF GREECE FOUNDATION'S INDEPENDENT ACCOUNTING FIRM WITH INFORMATION PROVIDED BY MANAGEMENT. INITIAL REVIEW OF THE COMPLETED FORM IS PERFORMED BY THE CFO AND AUDIT COMMITTEE. AFTER COMPLETE REVIEW BY THE AUDIT COMMITTEE AND PRIOR TO FILING THE FORM, A COPY OF THE FORM AS IT IS ULTIMATELY FILED IS PROVIDED TO ALL BOARD MEMBERS. CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C PERSONS COVERED UNDER THE POLICY: POLICY APPLIES TO THE BOARD OF TRUSTEES, THE PRESIDENT, CFO, PROVOST, AND ALL MEMBERS OF THE PRESIDENT'S CABINET, INCLUDING THE EMPLOYEES LISTED ON THE FORM 990. PRACTICES FOR MONITORING PROPOSED OR ONGOING TRANSACTIONS FOR CONFLICT OF INTEREST: EACH INDIVIDUAL COVERED UNDER THIS POLICY SIGNS AN ANNUAL STATEMENT THAT THEY ADHERE TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND THAT THEY DISCLOSE ANY POTENTIAL CONFLICTS. LEVEL AT WHICH CONFLICTS ARE REVIEWED: THE ANNUAL STATEMENTS ARE REVIEWED BY THE ORGANIZATION'S CFO AND DISCUSSED WITH THE AUDIT COMMITTEE WHEN A CONFLICT ARISES. THE PRESIDENT'S OFFICE MONITORS ALL CONTRACTS AND ACTIONS OF ALL EMPLOYEES ON A REGULAR BASIS. LEVEL AT WHICH DETERMINATION AS TO WHETHER A CONFLICT EXISTS ARE MADE: THE AUDIT COMMITTEE MAKES THE FINAL DETERMINATION OF WHETHER A CONFLICT EXISTS. RESTRICTIONS IMPOSED ON PERSONS WITH A CONFLICT: INTERESTED PERSONS ARE RECUSED FROM DISCUSSIONS AND VOTING ON ANY TOPIC THAT MAY CONSTITUTE A CONFLICT. COMPENSATION REVIEW PROCESS FORM 990, PART VI, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD UNDERTAKES AN ANNUAL REVIEW OF THE PRESIDENT'S PERFORMANCE. ONCE REVIEWED BY THE EXECUTIVE COMMITTEE, AND IN THE ABSENCE OF THE PRESIDENT, THE COMMITTEE MAKES RECOMMENDATIONS FOR ACTION TO THE FULL BOARD. ADDITIONALLY, THE PRESIDENT REPORTS TO THE FULL BOARD IN A FORMAL WRITTEN PRESIDENT'S REPORT THREE TIMES EACH YEAR WITH AN UPDATE ON ALL STRATEGIC INITIATIVES AND ACADEMIC, FINANCIAL AND OTHER MATTERS OF IMPORTANCE. IN CERTAIN YEARS IN WHICH THERE ARE CHANGES TO THE PRESIDENT'S COMPENSATION OR A NEW EMPLOYMENT CONTRACT IS SIGNED, THE EXECUTIVE COMMITTEE'S REVIEW IS SUPPORTED BY A COMPENSATION REVIEW PERFORMED BY AN INDEPENDENT FIRM SPECIALIZING IN THE FIELD OF COMPENSATION, AS WELL AS COMPARABLE COMPENSATION AT OTHER COLLEGES IN THE U.S. AND ABROAD. THE REVIEW OF THE EXECUTIVE COMMITTEE IS DOCUMENTED IN THE BOARD MINUTES. COMPENSATION IS VOTED ON AND APPROVED BY THE BOARD. THE PRESIDENT IS RESPONSIBLE FOR THE REVIEW OF COMPENSATION FOR THE CFO, the PROVOST and all of his direct reports. THE REVIEW IS BASED ON PERFORMANCE AND A COMPARATIVE ANALYSIS OF COMPENSATION PAID AT OTHER COLLEGES IN THE U.S. AND ABROAD. DOCUMENTS AVAILABLE TO PUBLIC FORM 990, PART VI, LINE 19 THE GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE AMERICAN UNIVERSITY OF GREECE FOUNDATION OFFICE. Other Change in Net Assets Form 990, Part XI, Line 9 Intercompany Transfer ($4,000,000) THE AMERICAN COLLEGE OF GREECE 6 GRAVIAS STREET 153 42 ATHENS AGHIA PARASKEVI GR 042306054 HIGH SCHOOL CO 501(C)(3) 2 NA false AMERICAN COLLEGE OF GREECE - DEREE 6 GRAVIAS STREET 153 42 ATHENS AGHIA PARASKEVI GR 980611322 COLLEGE GR 501(C)(3) 2 ACG true THE AMERICAN COLLEGE OF GREECE - GREECE 6 GRAVIAS STREET 153 42 ATHENS AGHIA PARASKEVI GR COLLEGE GR Dormant NFP ACG true false false false false false false false false false false false true false false true false false true false